NZ dollar gains to 3-week high vs. Aussie on RBA rate cut; dairy auction looms

Tue, 02 Aug 2016

By Jonathan Underhill Aug. 2 (BusinessDesk) - The New Zealand dollar rose to a new three-week high against the Australian dollar after the Reserve Bank of Australia cut its cash rate to a record low 1.5 percent in the face of subdued inflation. The New Zealand dollar traded at 95.52 Australian cents at 5pm in Wellington, having gained to as high as 95.67 cents immediately after the RBA statement, from 94.91 cents late yesterday. The kiwi fell to 71.86 US cents from 72.23 cents yesterday. RBA governor Glenn Stevens announced a quarter-p...

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